Listed by KW Commercial Woodbury - East Suburban
$419,900
3116 Emerson Avenue North
Details
APN 09-029-24-42-0025
Property Type Retail, Multifamily
Sub Type Apartment Building, Storefront
Square Footage 7,167
Units 6
Cap Rate 9.89%
NOI $41,523
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 10.89%
Pro-Forma NOI $45,711
Broker Co-Op True
Class C
Year Built 1907
Buildings 1
Stories 2
Lot Size (SqFt) 6,534
Zoning CM2
Parking Spaces 10 spaces
Parking per 1,000 SqFt 1.40
Investment Type Stabilized
Ground Lease No
Ownership Fee and Simple
Sale Condition For sale by owner
Retail | 9.89% CAP | 7,167 SqFt
Marketing description
High-cash-flow 6-unit mixed-use investment property in North Minneapolis featuring 4 residential apartments and 2 commercial spaces. The property is 100% occupied and generates $79,812 in actual annual scheduled income with $41,523 in actual NOI, producing a 9.89% actual cap rate and 1.71 DCR at the asking price of $419,900. With projected market income of $84,000 and market NOI of $45,711, 3116 Emerson Ave N offers investors immediate cash flow, diversified income, and upside in one accessible mixed-use asset.
Investment highlights
- The property generates $79,812 in actual annual scheduled income with a projected actual NOI of $41,523, providing investors with immediate income from day one.
- 3116 Emerson Ave N offers a 9.89% actual cap rate and a 10.89% market cap rate, creating a compelling yield relative to many smaller multifamily and mixed-use assets.
- The unit mix includes 4 residential apartments and 2 commercial spaces, reducing reliance on a single tenant type and creating multiple income sources within one asset.
- The property is currently occupied across all units, with leases in place for both residential and commercial tenants, supporting stable in-place income and reducing immediate lease-up risk.
- Located at Lowry Ave N and Emerson Ave N, the property benefits from corner exposure, neighborhood commercial visibility, and 10 rear parking stalls, which is a meaningful advantage for both commercial tenants and residents.
Listing Contacts
Listed by KW Commercial Woodbury - East Suburban
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$41,523.00
$3,460.25/mo
Valuation Metrics
0
DSCR
9.89%
Cap Rate
9.89%
ROI
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